Del Webb Oak Creek Community Development District

Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
DEL WEBB OAK CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
O&M (Operation & Maintenance) Assessments	205,802	
Developer Contribution	0	
Debt Assessments	868,542	
Interest Income	240	
		
TOTAL REVENUES	$	1,074,584	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
Legal	29,000	
Assessment Roll	5,000	
Audit Fees	4,300	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	4,000	
Miscellaneous	1,500	
Postage	200	
Office Supplies	1,500	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	96,425	
		
Maintenance Expenditures		
Engineering/Inspections	3,000	
Miscellaneous Maintenance	1,000	
Preserve Maintenance	75,000	
Lake Bank Maintenance	20,000	
Total Maintenance Expenditures	$	99,000	
		
Total O&M Expenditures	$	195,425	
		
REVENUES LESS EXPENDITURES	$	879,159	
		
Bond Payments	(823,737)	
		
BALANCE	$	55,422	
		
County Appraiser & Tax Collector Fee	(12,967)	
Discounts For Early Payments	(42,455)	
		
EXCESS/ (SHORTFALL)	$	-	

6/29/2023 4:10 PM	I

DETAILED FINAL BUDGET
DEL WEBB OAK CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	0	205,802	Expenditures Less Interest/.94	
Developer Contribution	60,994	87,875	0		
Debt Assessments	0	0	868,542	Bond Payments/.9484	
Interest Income	2	0	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	60,996	$	87,875	$	1,074,584		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	6,000	36,000	36,000	$3,000 X 12 Months	
Legal	16,707	30,000	29,000	
Fiscal Year 2022/2023 Expenditure As Of 1/31/23 Is $9,945	
Assessment Roll	0	0	5,000	As Per Contract	
Audit Fees	0	0	4,300		
Arbitrage Rebate Fee	0	0	650	
Commences In Fiscal Year Following Issuing Of Bond	
Insurance	1,123	6,000	6,000		
Legal Advertisements	12,650	7,500	4,000		
Miscellaneous	59	1,500	1,500		
Postage	102	200	200		
Office Supplies	1,217	1,500	1,500		
Dues & Subscriptions	0	175	175	
Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	500	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	0	4,100	
Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	0	1,000		
Total Administrative Expenditures	$	38,358	$	85,875	$	96,425		
					
Maintenance Expenditures					
Engineering/Inspections	1,500	1,000	3,000		
Miscellaneous Maintenance	0	1,000	1,000		
Preserve Maintenance	0	0	75,000		
Lake Bank Maintenance	0	0	20,000		
Total Maintenance Expenditures	$	1,500	$	2,000	$	99,000		
					
Total O&M Expenditures	$	39,858	$	87,875	$	195,425		
					
REVENUES LESS EXPENDITURES	$	21,138	$	-	$	879,159		
					
Bond Payments	0	0	(823,737)	2024 Principal & Interest Payments	
					
BALANCE	$	21,138	$	-	$	55,422		
					
County Appraiser & Tax Collector Fee	0	0	(12,967)	
One Percent Of Total Assessment Roll + Per Parcel Collection Fee	
Discounts For Early Payments	0	0	(42,455)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	21,138	$	-	$	-		

6/29/2023 4:10 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
DEL WEBB OAK CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
0	
0	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
0	
0	
823,737	
Maximum Debt Service Collection	

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	823,837		

EXPENDITURES					

Principal Payments	
0	
0	
195,000	
Principal Payment Due In 2024	

Interest Payments	
0	
0	
627,697	
Interest Payment Due In 2024	

Bond Redemption	
0	
-	
1,140	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	823,837		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capital Interest Set-up Through May 2023 - Developer To Be Direct Billed For November 2023 Interest Payment ($315,859).

Series 2023 Bond Information

Original Par Amount =	$12,585,000	Annual Principal Payments Due =	May 1st	

Interest Rate =	
4.125% - 5.25%	
Annual Interest Payments Due =	
May 1st & November 1st	

Issue Date =	
March 2023			

Maturity Date =	
May 2053			

Par Amount As Of 3/8/23 =	$12,585,000

6/29/2023 4:10 PM	III

DEL WEBB OAK CREEK COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	
Assessment*	Assessment*	Projected Assessment*	

O & M For 40' Garden Unit	 

$	-	$	-	$	394.26	
Debt For 40' Garden Unit	$	-		$	-		$	1,562.50	
Total For 40' Garden Unit	$	-	$	-	$	1,956.76	
O & M For 50' Classic Unit	$	-	$	-	$	394.26	
Debt For 50' Classic Unit	$	-		$	-		$	1,666.67	
Total For 50' Classic Unit	$	-	$	-	$	2,060.93	

O & M For 65' Estate Unit	
$	-	$	-	$	394.26	
Debt For 65' Estate Unit	$	-		$	-		$	1,770.83	
Total For 65' Estate Unit	$	-	$	-	$	2,165.09	

* Assessments Include the Following: 4% Discount for Early Payments County Tax Collector Fee
County Property Appraiser Fee

Community Information: 40' Garden Units: 144
50' Classic Units: 248
65' Estate Units: 130
Total:	522 Units

6/29/2023 4:10 PM	IV